Why Does Warren Buffett Want You to Pay More Taxes?

It's that time of year again
when business owners get frustrated by our complicated tax code and
their constantly growing tax bill. But, did you know that Warren
Buffett doesn't think you are paying a "fair share" of taxes?

The
world's third richest man (2010 Forbes List) often complains that his
tax bill (as a percentage of income) is less than his secretary's.
Buffett often references this anecdote in his argument that the rich in
this country do not pay their fair share.

For the record, the top 1% of income earners
($1,258,700 annual income) pay 31.1% of their income to the IRS.

Mr. Buffett's wealth is tied to stock that does not pay dividends while
his other assets are invested in tax free bonds. He earns just $100,000
annually for running one of the most successful companies in American
business history. Mr. Buffett could adjust his holdings into taxable
investments and pay a great amount of his income to the Treasury if he
really feels bad.

Check out Mankiw's report to the Eastern
Economic Association. It's worth the read...

Monday's Training:

Most readers of reports and emails are skeptical of the information contained in documents that are riddled with easily corrected surface errors. Don't let yours be one of them....Click here to find out more.